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Demand Based Pricing: Described methods belong to the category of demand / market based pricing:-
1. What the Traffic can Bear' Pricing
2. Skimming Pricing
3. Penetration Pricing
The price elasticity of demand is taken into account in all of the demand based pricing methods, indirectly or directly. Price elasticity of demand refers to the relative sensitivity of demand for a product to changes in its value in other words how significantly the sales of the product are affected when price is changed. If decrease or increase in the price of the product results in significant increase or decrease the product is said to be price elastic conversely, if price change does not considerably affect the sales volume, a product is called to be price inelastic.
Importance of the marketing in a Seller's or Buyer's market : A seller's market is one in which the demand for goods and in the services exceeds to the supply. In such a situati
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explain service marketing and give a company''s example?
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Q1 Create a graph of widget sales on the tab "Q1-Graph" and characterize the time series. That is, does the time series appear to include the effects of ( 1 ) cyclicality, ( 1 )
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Explain the various approaches that are followed by FMCG COMPANIES IN TEST MARKETING
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